The Story of the Ford Edsel
Watching Ford and GM struggling today brings to mind the story of the Ford Edsel. The Edsel story is a case study in how not to develop and introduce a new product. That's not exactly the problem that the big American motor companies have today - it's bad contracts and their turning themselves into de-facto finance and healthcare corporations - but they have not been wise for many years. Detroit is suffering: Click here: RealClearPolitics - Commentary - Public Sector Unions Still Living in a Dream World by Tom Bray
From a piece by A. Young:
The early 1950s were a euphoric period for automakers. In 1955 Americans bought a record 7,169,908 new cars. This auto-buying frenzy was just one aspect of the postwar economy that Vance Packard described in The Status Seekers, published in 1959 1 In Packard's view, automobiles evolved from mere transportation vehicles just after World War II to symbols of middle-class affluence in the first half of the 1950s. The V-8 engine reigned supreme and horsepower was the watchword. In this heady market atmosphere Ford Motor Company conceived a new car that they hoped would help the company surpass General Motors in overall market share.